EDMOND — City council members are expected to vote June 6 on a proposed $268,777,873 budget for the fiscal year that begins July 1.
The proposed 2014-15 budget shows no growth from the current fiscal year.
Edmond annually figures a budget for the next fiscal year and a five-year financial plan. This is the 18th year city leaders have used a multi-year financial plan, which allows them to predict where shortfalls might exist in future years.
The decision was made to keep the new budget flat after city finance officials revised the current budget when sales tax collections for the first 11 months came in higher than projected.
Ross VanderHamm, city finance director, said this fiscal year’s budget was boosted 7.41 percent.
The proposed zero-growth budget used the revised budget figures, VanderHamm said.
Sales tax collections so far for 2013-14 are 15.57 percent above collections from two years ago, the numbers used to calculate this year’s budget.
City leaders did not use the previous year’s growth as the benchmark for the current budget because they thought those numbers were atypical, City Manager Larry Stevens said.
“For the second consecutive year, the city of Edmond has experienced sales tax revenue growth that has significantly outpaced our projections,” Stevens said.
Edmond relies mainly on sales tax receipts for the daily operations of city business.
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